Ron Simon, who has successfully built and sold three companies, is now targeting his Newport Beach-based nonprofit for a major boost.
The Simon Foundation for Education and Housing, which currently has around $33 million in assets, plans to increase its endowment to $400 million and more, much of it from Simon himself.
He’s also hired for a new position of president one of the area’s most successful fundraisers and educational leaders, Sheryl Bourgeois, who worked 24 years at Chapman University and oversaw the raising of $600 million.
In addition to boosting the Simon Foundation’s assets via outside contributions, Bourgeois will oversee the foundation’s operations and launch new initiatives for it.
“We’ve known and worked together for a long time,” Simon told the Business Journal, speaking of the new president.
“We picked her brain to recruit somebody to lead our program. We told her what we were looking for. We said ‘somebody like you.’ That began a conversation,” Simon said.
“We’re honored to have her.”
Bourgeois said she’s known Ron Simon and his wife, Sandi, for many years—the couple has been a major contributor to the university—and has seen the impact of their foundation.
“I’m excited for Ron’s vision on what he wants to accomplish,” she said. “We can apply it locally and maybe across the nation. It’s a perfect step in my career. I got to build my own job description.”
1,000 Scholarships
The pair has ambitious plans for the foundation.
While it currently funds about 230 scholarships a year, Simon is contemplating boosting that number to 1,000.
“The need is there,” Simon said. “We want to do it the right way.”
The scholarships, made possible through the Simon Scholars Program, are to help students who face difficult life and economic circumstances to excel academically and socially. It’s a six-year scholarship program that begins at the end of a student’s sophomore year in high school and continues through the completion of college. Scholars are given the tools necessary to successfully complete a four-year college degree, pursue meaningful careers, and achieve the American Dream of self-sufficiency and independence.
In 2009, the first cohort of Simon Scholars earned bachelor’s degrees from leading universities such as Harvard University, Smith College and the University of California, Berkeley. Recently, a Phyician Assistant graduate school component was launched at Chapman University to provide full-ride scholarships.
The nonprofit has given about 1,500 scholarships since then with its value exceeding $60 million. It’s now planning to enhance and grow its alumni association activities.
It’s also begun a Simon Scholars Leadership Association that’s recruited 30 leaders in Orange County, including First American Financial’s Park Kennedy, MVE + Partners’ Carl McLarand, Greenlaw Partners’ Wil Smith, WealthWise Financial Services’ Loreen Gilbert, and Chapman president emeritus Jim Doti, among other prominent names.
To augment the Simon Scholars program, there are plans to establish a summer leadership academy that will focus on free enterprise and entrepreneurship.
“Some kids don’t have much appreciation for these values,” Simon said. “I want them to understand what made this a great country; teach them about economics and how to manage money.”
Tackling Homelessness
Simon has successfully built three companies: Perma-Bilt Industries, a bathroom cabinet manufacturer begun by his father in 1949; RSI Home Products, the world’s largest and most profitable kitchen and bath cabinet manufacturer that was sold in 2017 for $1.1 billion; and homebuilder RSI Communities, which was sold for $500 million to William Lyon Homes in 2018.
One of Simon’s passions is to help reduce homelessness in Orange County. The pair plans to seek partnerships with cities to tackle the homelessness issues and create affordable housing solutions.
“To make this happen, we have to overcome a lot of bureaucracy,” Simon said. “Bureaucrats watch out. Here we come.”
The nonprofit is prepared to invest over $100 million to develop and build “Dream Communities” that will offer affordable rents to the homeless who are working but cannot afford the exorbitant rents in communities near their jobs. In Orange County, more than 25% of the homeless are working, Simon said.
“These hard-working individuals deserve to be living in a comfortable environment rather than in their automobiles or on the streets,” he said.
Chapman’s Growth
Bourgeois brings to her new role more than 30 years of experience in fundraising, advancement, marketing and communications for nonprofit organizations.
She joined Chapman in 1998, and helped it evolve from a liberal arts college of 2,200 students to a nationally ranked university with a student body verging on 10,000. She’ll continue to have a working relationship with the school, via evaluating new projects and monitoring the Simon Foundation’s previous institutional investments at Chapman.
A replacement for her role at Chapman has not been announced.
Simon praised Bourgeois as someone “who’s been there and done it.”
“We need someone who can take this thing to the next level,” he said.
“Our competitive spirit is in this. When we set out to do something, we want to be the best.”
